Tag: odujinrin and adefulu
Nigeria's government says estimates show that Compressed Natural Gas could cost as much as 97 Naira per litre. Nigeria is exploring possible affordable alternatives to Premium Motor Spirit and plans to install gas facilities at petrol stations. Adeoye Adefulu, Partner at Odujinrin and Adefulu joins CNBC Africa for more.
Nigeria’s President, Muhamamdu Buhari is expected to send a revised version of the Petroleum Industry Bill to the Senate for consideration and approval next week. The much-awaited 20-year-old bill is expected to revamp Nigeria’s oil and gas sector, improve local content and drive both local and domestic investments. Adeoye Adefulu, Partner at Odujinrin and Adefulu joins CNBC Africa for more.
Nigeria’s Petroleum Products Pricing Regulatory Agency has removed the cap on the price of Premium Motor Spirit, also known as petrol, giving marketers the freedom to fix the price of the commodity and sell above the price stipulated by the body.
As five more COVID-19 cases were confirmed in Nigeria on Wednesday, the government swung into action and made some swift reforms which include the reduction of petrol pump price – a N1.5 trillion cut in the 2020 budget and a travel ban on 13 countries with high COVID-19 infection rates. The Central Bank of Nigeria also announced a N1.1 trillion intervention fund to boost the economy. Adeoye Adefulu, Partner at Odujinrin and Adefulu and Kola Masha, Managing Director of Babban Gona both join CNBC Africa to discuss how these moves would impact some key sectors of the Nigerian economy.
The Nigerian government is seeking about $62billion from international oil companies as arrears from the Production Sharing Contract on petroleum sales if crude prices exceed $20. To discuss more on this story Adeoye Adefulu, Partner at Odujinrin and Adefulu joins CNBC Africa.
The United Kingdom's Business and Property Court granted the enforcement request of Process and Industrial Development Limited, to the tune of $9 billion. And the firm says it plans to enforce this judgement by seizing Nigerian assets. Adeoye Adefulu, Partner at Odujinrin and Adefulu joins CNBC Africa to weigh the options available for Nigeria.
Nigeria’s President Muhammadu Buhari says he is ready to assent to the highly anticipated Petroleum Industry Governance Bill, as soon as the National Assembly presents it to him. This comes after he cited constitutional and legal breaches as the fundamental reason for withholding his assent in 2018. Adeoye Adefulu, Partner at Odujinrin and Adefulu joins CNBC Africa to assess the likely impact of this bill and discuss other reforms needed in Nigeria’s oil and gas industry
Nigeria's oil and gas industry stakeholders say the country is fast losing its comparative advantage with the delay in the passage of the Petroleum Industry Bill. CNBC Africa's Wole Famurewa spoke to Adeoye Adefulu, Partner at Odujinrin and Adefulu to discuss this story.